Brussels has Approved the Takeover of Chrysler by Fiat

European Commission (EC) announced Friday that they authorized the acquisition of American automobile manufacturer Chrysler by the Italian company Fiat, arguing that the operation will not significantly influence the manner of the competitive market of the European Union, according to AFP.

"Between Fiat and Chrysler are too few overlapping activities. Therefore, the acquisition would not change in a significant competitive market structure and supply of construction machinery in the EU", is shown in the Commission communication.

Fiat and Chrysler have reached an agreement in June, after which the American manufacturer assets were taken over by the Italian, Scotland new Chrysler company in a process of recovery under the control of the judiciary.

Thus, in a first phase, 20% of the new company, called Chrysler Group LLC, will be owned by Fiat, which does not share in cash, but technology and new models.

Participatory Fiat will increase later in several stages, up to 35% will be met if more well established.

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